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Fashion Jobs
H&M
Area Manager - Vietnam
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Manager Quality Continuous Improvement Footwear
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3pl Business Expert - Warehouse Operations
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Distribution Center Manager
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Store Department Manager (Quản lý Ngành Hàng Tại Cửa Hàng) - đà Nẵng Based
Permanent ·
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Nhân Viên tư Vấn Bán Hàng Bán Thời Gian Khu Vực Vincom Ocean Park
Permanent · HANOI
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Nhân Viên tư Vấn Bán Hàng Toàn Thời Gian Khu Vực Aeon Mall hà Đông
Permanent · HANOI
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Nhân Viên tư Vấn Bán Hàng Bán Thời Gian Khu Vực Aeon Mall hà Đông
Permanent · HANOI
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Department Manager (Quản lý Ngành Hàng) - Khu Vực Ocean Park Gia Lâm
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Nhân Viên tư Vấn Bán Hàng Bán Thời Gian Khu Vực Crescent Mall
Permanent · HO CHI MINH CITY
H&M
3pl Business Expert - Allocation
Permanent · BIEN HOA
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Nhân Viên tư Vấn Bán Hàng Bán Thời Gian Khu Vực Mega Mall Royal City
Permanent ·
H&M
Nhân Viên tư Vấn Bán Hàng Toàn Thời Gian Khu Vực Vincom Times City
Permanent · HANOI
H&M
Nhân Viên tư Vấn Bán Hàng Toàn Thời Gian Khu Vực Aeon Mall Tân Phú
Permanent · HO CHI MINH CITY
H&M
Nhân Viên tư Vấn Bán Hàng Bán Thời Gian Tại Vincom Plaza hạ Long
Permanent · HẠ LONG
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Visual Merchandiser (Phụ Trách Trưng Bày Làm Việc Tại Cửa Hàng) - hà Nội Based
Permanent · HANOI
H&M
Nhân Viên tư Vấn Bán Hàng Bán Thời Gian Khu Vực Times City
Permanent · HANOI
H&M
Visual Merchandiser (Phụ Trách Trưng Bày Sản Phẩm) - Khu Vực Ocean Park Gia Lâm
Permanent · HANOI
H&M
Nhân Viên tư Vấn Bán Hàng Toàn Thời Gian Khu Vực Mega Mall Royal City
Permanent · HANOI
H&M
Visual Merchandiser (Phụ Trách Trưng Bày Làm Việc Tại Cửa Hàng) - hồ Chí Minh Based
Permanent · HO CHI MINH CITY
H&M
Nhân Viên tư Vấn Bán Hàng Khu Vực Royal City - hà Nội (Bán Thời Gian và Toàn Thời Gian)
Permanent · HANOI
By
Reuters
Published
Jul 22, 2022
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Europe's high-spending tourists set to lift French luxury sales in Q2

By
Reuters
Published
Jul 22, 2022

Free-spending tourists in Europe are expected to drive brisk second quarter sales at French luxury groups LVMH, Gucci-owner Kering and Hermes, helping to offset the impact of disruptions in China from COVID-19 restrictions.




High-end French and Italian fashion houses have been riding a wave of strong, post-pandemic demand for designer labels, with shoppers still eager to spend savings from lockdowns despite turbulent stock markets and rising prices.

The euro’s slide versus the dollar, which is likely to boost earnings for luxury companies producing in Europe, is encouraging visiting Americans to spend more.

“American consumers are travelling to Europe like there’s no tomorrow,” said Mario Ortelli of luxury mergers-and-acquisitions advisory firm Ortelli & Co, predicting they will boost the sector’s sales on the continent.

Investors will be looking out for signs of waning appetite for designer brands as well as plans by the luxury goods companies for further price increases, which are aimed at protecting margins.

“We continue to see outsized high-end demand in the market, as consumers of all nationalities emerge from the pandemic in a [you-only-live-once] mood. This has yet to normalise,” said Bernstein analyst Luca Solca, who expects such "normalisation" to start in the second half of this year.

Lockdowns in China could still cast a cloud over the earnings. In China, the sector's sales were down by much as 40% over the quarter, based on estimates from Barclays, which forecasts global organic sales growth of around 11%, half the pace of the previous quarter.

Concern about the industry’s prospects in China flared up on July 15, when trading updates from Burberry and Richemont showed lockdowns pushed sales down by more than 30%, just as the country released weak second quarter GDP data.

The strength of the U.S. market will also be in focus for any signs of weakness. The United States overtook Europe as the largest luxury market last year and is attracting a flood of investments in new stores from European labels.

Consensus estimates are for second quarter sales growth of 17% at LVMH, 12% at Kering and 16% at Hermes, based on UBS forecasts.

LVMH releases first half results on July 26, Kering on July 27 and Hermes on July 29.
 

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